The Benefit Corporation: A Silent Trend

Law360, New York (August 10, 2012, 12:40 PM EDT) -- For the past two years, there has been a silent trend in state legislatures authorizing corporations to form a hybrid corporate legal structure called the benefit corporation. New York, as of Feb. 10, 2012, became the seventh state to allow its corporate leaders to consider the interests of all their stakeholders — investors, employees, customers and their respective societies — when taking business action.

A total of nine states have already passed similar legislation and another 11 states are currently considering it. This much legislative action...
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